$5 billion cash reserves keep Maruti Suzuki on the road in Q4, FY20, Auto News, ET Auto

Financial income of Rs 3,420 crore of Maruti Suzuki was close to 50% of profit before tax in FY20.
Money cash flow of Rs three,420 crore of Maruti Suzuki was shut to fifty% of revenue prior to tax in FY20.

Mumbai: Close to $five billion of cash reserves came to the rescue of Maruti Suzuki, India’s premier motor vehicle maker, in the fourth quarter of FY20 as passenger vehicle sales declined the most in a long time. The company’s financial cash flow from investments exceeded profits from the main business of earning and offering vehicles.

Money cash flow of Rs three,420 crore was shut to fifty% of revenue prior to tax in FY20. That compares with running revenue (EBIT)

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Fiat Chrysler seeks $6.8 billion state-backed loan in Italy

MILAN — Italian Prime Minister Giuseppe Conte explained on Saturday that Fiat Chrysler was entitled to utilize for Italy’s point out-backed loans because the automaker employs countless numbers of individuals in the state, even even though its lawful base is situated abroad.

The Italian-American group confirmed on Saturday its Italian device was working with Rome to attain point out ensures on a 6.3-billion-euro ($6.8 billion) financial loan facility made to enable Italy’s automotive marketplace, comprised of around ten,000 tiny and medium-dimensions companies.

The coronavirus outbreak, which has hit Italy specifically hard, slammed the brakes on desire for new vehicles and

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